Everest Kanto Cylinder Ltd says oxygen supplies restored to its plants at Tarapur and Kandla

Everest Kanto Cylinder Limited, has announced that supplies of oxygen to its manufacturing facilities located in Tarapur (Maharashtra) and Kandla (Gujarat) have been restored to normal levels. Over the last few days, oxygen supplies had been curtailed to due to the significantly higher requirement from hospitals and other healthcare facilities. This had temporarily slowed down production at the company's units.

At present, demand for medical oxygen has increased due to the spread of Covid-19 infections in the country and it has been company's endeavor to expand production of medical oxygen cylinders in full support of the country's fight against the pandemic.

The company is India's largest manufacturer of high-pressure gas cylinders with annual manufacturing capacity of more than 700,000 cylinders. The company's product portfolio includes cylinders for a wide variety of applications including storage of medical oxygen used in the healthcare sector. Overall, cylinders manufactured by EKC are used for storage of a variety of gases such as CNG, Oxygen, Hydrogen, Nitrogen, Argon, Helium, Air etc, with usage across manufacturing, fire equipment / suppression systems, medical establishments, aerospace / defense, automobiles and some specialized areas.

Shares of EVEREST KANTO CYLINDER LTD. was last trading in BSE at Rs.113.8 as compared to the previous close of Rs. 119.75. The total number of shares traded during the day was 234563 in over 1912 trades.

The stock hit an intraday high of Rs. 117.4 and intraday low of 113.8. The net turnover during the day was Rs. 26915577.

Source : Equity Bulls

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